Latest News on UCO Bank
Mumbai Court Rejects Plea to Clear Topworth Director’s Name in UCO Bank Scam Case
A special Central Bureau of Investigation (CBI) court in Mumbai has refused to discharge Abhay Lodha, the director of Topworth Steels and Power Pvt Ltd, from a cheating and criminal conspiracy case. The case involves allegations of causing losses worth ₹74 crore to UCO Bank. The First Information Report (FIR) was registered against M/s Akshata Mercantile Private Ltd (AMPL) and unknown UCO Bank officials after the company submitted four bills worth ₹74 crore under Letter of Credit (LC), which were diverted to Topworth Steels.
The CBI alleged that UCO Bank had discounted bills worth ₹74.82 crore, which were diverted by AMPL to the Topworth Group of Companies. One of the receiving companies refused to accept these bills, stating that the documents were not as per the LC, resulting in unpaid bills and a loss of ₹74.82 crore to UCO Bank. The prosecution claimed that the request letters were prepared at the behest of Lodha.
Lodha’s defense team argued that he was falsely implicated in the case, as he is neither the director nor engaged in the day-to-day affairs of AMPL. They also claimed that merely being the guarantor to the LC does not implicate him in the conspiracy and that there was no evidence to show that funds were being diverted.
However, the court observed that even if Lodha is not the director of AMPL, the investigating officer had collected material to show that AMPL was a company of the Topworth group, of which Lodha was the chairman. The court stated that Lodha has direct control over the business affairs of AMPL and that the investigation revealed that he was the prime accused, without whose indulgence the crime could not have been committed.
The court further said that the material placed on record shows that there was criminal intent behind certain acts of Lodha with regard to the bank. Therefore, the court refused to discharge Lodha from the case, allowing the trial to proceed. The order was passed on June 12, and the case will continue to be heard in the special CBI court.
SBI Axes Rs 1 Crore Air Accident Insurance for Select Customers from July Onwards
SBI Card has announced significant changes to its credit card policies, effective July 15, 2025, which will impact both premium and co-branded credit card users. One of the major changes is the discontinuation of complimentary air accident insurance on several cards. This means that cardholders will no longer receive automatic air accident insurance, a previously valuable feature for frequent flyers. The affected cards include SBI Card Elite, SBI Card Miles Elite, and Miles Prime, which will lose their Rs 1 crore coverage, as well as SBI Card Prime and Pulse, which will lose their Rs 50 lakh coverage.
In addition to the removal of air accident insurance, SBI Card will also update its minimum payment calculation formula. Starting July 15, the Minimum Amount Due (MAD) will be calculated as 100% of GST, EMI amounts, fees and charges, finance charges, and any over-limit amounts, plus 2% of the remaining outstanding balance. This change is likely to increase the minimum payable amount, especially for those with high EMIs or charges.
Another significant change is the revised order of payment settlement. From July 15, SBI will adjust payments in the following order: GST, EMIs, fees/charges, finance charges, balance transfers, retail purchases, and cash advances. This change will impact how interest is charged and how quickly cardholders can reduce their costliest debts.
Co-branded cards will also be affected by these changes. From August 11, 2025, cards with Rs 1 crore coverage, such as the UCO Bank SBI Card ELITE and Central Bank of India SBI Card ELITE, will lose their air accident insurance benefit. Cards with Rs 50 lakh coverage, including PRIME variants from South Indian Bank, Karnataka Bank, and Allahabad Bank, will also be affected.
Cardholders are advised to review their statements carefully and adjust their financial plans accordingly. The loss of insurance coverage and changes in payment processing could have significant implications for how much users pay and what protections they receive. It is essential for cardholders to understand these changes and plan their finances accordingly to avoid any unexpected charges or losses. Overall, these changes will require cardholders to be more mindful of their credit card usage and payment habits to minimize their costs and maximize their benefits.
RBI’s rate cut leads to drop in home loan rates, bringing greater relief to existing borrowers
Following the Reserve Bank of India’s (RBI) decision to cut the repo rate by 50 basis points, several major public sector banks have reduced their lending rates. The move aims to stimulate credit growth and support economic activity amid ongoing challenges. Bank of Baroda, Punjab National Bank, Bank of India, and UCO Bank have all reduced their repo-linked lending rates (RLLR) by 50 basis points, with effective dates ranging from June 6 to June 9, 2025. These reductions bring their RLLR rates down to between 8.15% and 8.35%.
In addition to the public sector banks, private sector lender HDFC Bank has also reduced its Marginal Cost of Funds based Lending Rate (MCLR) by 10 basis points across various tenures, effective June 7, 2025. This adjustment brings down the overnight and one-month MCLR rates to 8.9%. The RBI’s repo rate cut directly impacts floating-rate loans, which must be reset in line with the benchmark repo rate as per RBI regulations. Existing borrowers with floating-rate loans will automatically benefit from lower interest rates.
However, new borrowers may not receive the full benefit of the rate cut, as banks are expected to modify the spreads they charge over the repo rate to maintain profitability. For example, Bank of Baroda’s home loan rates for new borrowers now start at 8%, which is higher than the rates offered by some public sector banks prior to the RBI rate cut. Several public sector banks, including Bank of India, Bank of Maharashtra, and Union Bank of India, were offering home loans at rates as low as 7.85% for loans up to Rs 30 lakh.
The rate cuts are expected to make borrowing cheaper for consumers and businesses, which could help stimulate economic growth. However, to preserve profitability, lenders are also expected to reduce returns on fixed deposits (FDs), making them less attractive to savers in the near term. The RBI’s repo rate reduction and the subsequent adjustments by banks reflect ongoing efforts to balance credit availability, profitability, and competitive pressures in the Indian banking sector.
Overall, the rate cuts are a positive development for borrowers, but may have a negative impact on savers. The Indian banking sector is expected to continue to evolve in response to the RBI’s monetary policy decisions, with lenders adjusting their rates and products to maintain profitability and competitiveness. The ultimate goal of the rate cuts is to spur economic growth by making borrowing cheaper, which could have a positive impact on the broader economy.
Stock Market Updates of UCO Bank
Recent Updates
UCO Bank Slashes Lending Rates: MCLR Reduced Across All Loan Tenures, Effective June 10, Making Borrowing More Affordable
UCO Bank, a major public sector bank in India, has announced a 0.10% reduction in its Marginal Cost of Funds-Based Lending Rate (MCLR) across all tenures, effective June 10, 2025. This move follows the Reserve Bank of India’s (RBI) decision to cut the repo rate by 50 basis points, bringing the total reduction to 75 basis points since the RBI’s previous three consecutive cuts. As a result, the repo rate has decreased from 6% to 5.50%. This reduction in MCLR by UCO Bank is expected to make various types of loans, such as home loans, car loans, and personal loans, more affordable for customers.
The MCLR rates for different periods have been reduced as follows: overnight MCLR has decreased from 8.25% to 8.15%, one-month MCLR has decreased from 8.45% to 8.35%, three-month MCLR has decreased from 8.60% to 8.50%, six-month MCLR has decreased from 8.90% to 8.80%, and one-year MCLR has decreased from 9.10% to 9.00%. The one-year MCLR is particularly significant, as most retail loans, including home loans, are linked to this rate.
MCLR, or Marginal Cost of Funds-Based Lending Rate, is the minimum rate below which a bank is not allowed to lend. It was introduced by the RBI on April 1, 2016, to bring transparency to lending rates and ensure that the benefits of policy rate changes are passed on to customers quickly. MCLR is based on a bank’s internal costs, including the cost of funds, cash reserve ratio, operating costs, and tenor premium. When the RBI cuts the repo rate, it becomes cheaper for banks to raise funds, allowing them to reduce their MCLR rates and pass on the benefits to customers.
The reduction in MCLR by UCO Bank is expected to have a ripple effect on the entire banking sector, with other public and private sector banks likely to follow suit and announce similar cuts in their MCLR rates. This, in turn, will make loans cheaper across the country and boost the economy. The continuous reduction in repo rate by the RBI is expected to have a positive impact on the economy, making borrowing more affordable for individuals and businesses. Overall, the reduction in MCLR by UCO Bank is a welcome move for customers, and it is expected to have a positive impact on the banking sector and the economy as a whole.
Major lenders, including Bank of Baroda, UCO Bank, Punjab National Bank, and Bank of India, have slashed their lending rates.
UCO Bank has announced a reduction in its marginal cost of fund-based lending rate (MCLR) by 10 basis points across all tenures, following the Reserve Bank of India’s (RBI) decision to cut the repo rate. The reduced MCLR rates will come into effect from June 10. The MCLR is a crucial benchmark rate that determines the interest rates for loans such as home loans, personal loans, and some business loans.
As per the revised rates, the overnight MCLR has been decreased from 8.25% to 8.15%, while the one-month MCLR has been lowered from 8.45% to 8.35%. The three-month MCLR has seen a cut from 8.6% to 8.5%, and the six-month MCLR from 8.9% to 8.8%. The one-year MCLR has been reduced from 9.1% to 9%. These reductions in MCLR rates are expected to make loans linked to this benchmark cheaper for customers.
In addition to the MCLR revisions, UCO Bank has also reduced its treasury bill-linked rates. Effective from June 9, the rates for three months, six months, and 12 months have been lowered to a uniform 5.8%, down from the previous rates of 6% or 6.05%. These changes are aimed at providing relief to borrowers and stimulating economic growth.
The reduction in MCLR rates by UCO Bank is a positive development for customers who have taken loans linked to this benchmark. With the decreased interest rates, borrowers can expect to save on their loan repayments. The move is also expected to boost credit growth and support the overall economy. The RBI’s decision to cut the repo rate has prompted several banks to review their lending rates, and UCO Bank’s reduction in MCLR rates is a step in this direction. Overall, the revisions in MCLR rates and treasury bill-linked rates are likely to benefit borrowers and contribute to the country’s economic growth.
A crucial announcement from the RBI on fixed deposits is imminent, and its impact will be felt by the general public across the board.
The Reserve Bank of India (RBI) has reduced the repo rate twice this year, resulting in a decrease in interest rates on Fixed Deposits (FDs) offered by most banks, especially public sector banks. With inflation showing signs of easing, experts predict that the RBI may cut rates again in June. This makes it a good time to invest in FDs, as once you book an FD, the interest rate is locked in for the entire term, even if market rates fall later.
Currently, top public sector banks are offering attractive interest rates on 1-2 year FDs, ranging from 7.05% to 7.30% for regular customers. Senior citizens can earn even higher returns, up to 7.75% for 1-2 year tenures. Banks such as Bank of Maharashtra, Punjab & Sind Bank, and UCO Bank are offering these higher rates for senior citizens.
Before investing in an FD, it’s essential to keep a few things in mind. Firstly, choose the FD tenure wisely, as locking in current high rates for longer is better. Secondly, check the bank’s rating, as public sector banks are generally safer. Thirdly, explore senior citizen schemes, which offer higher interest rates. Finally, enable auto-renewal to ensure that your money doesn’t lie idle after maturity.
If the RBI cuts rates again in June, today’s FD rates may soon be history. Therefore, if you want stable and guaranteed returns, now is the right time to lock in your investment. With the current interest rates and the possibility of further rate cuts, investing in an FD before June could be a smart move. It’s essential to take advantage of the current rates before they drop, as they may not be available in the future.
Overall, investing in an FD is a low-risk investment option that provides guaranteed returns. With the current interest rates and the potential for further rate cuts, it’s crucial to make an informed decision and invest wisely. By considering the factors mentioned above and taking advantage of the current rates, you can make the most of your investment and earn attractive returns on your FD.
Over 40 companies, including IRFC, Adani Green, UCO Bank, and Castrol India, are set to announce their earnings on April 28
On Monday, a multitude of companies across various sectors are slated to announce their fourth-quarter (Q4) results, marking a critical juncture for investors, analysts, and the broader market. The list of companies declaring Q4 results includes Indian Railway Finance Corporation Ltd., which operates in the financial sector, particularly focusing on funding for Indian Railways’ expansion and modernization plans. KFin Technologies Ltd., a leading provider of financial services and solutions, will also release its Q4 results, offering insights into the performance of the financial technology sector.
KPIT Technologies Ltd., a company specializing in IT consulting and services, is another key player set to unveil its Q4 performance. This announcement is crucial for understanding the growth trajectory of the IT sector, especially in the context of global digital transformation trends. Nippon Life India Asset Management Ltd., known for its investment and asset management services, will also disclose its Q4 results, reflecting the health of the asset management industry.
The real estate sector will have its moment of reckoning with Oberoi Realty Ltd. announcing its Q4 results. This is significant given the real estate market’s recovery and growth potential. On the industrial front, companies like Nitco Ltd., Plastiblends India Ltd., and Sanghi Industries Ltd. will provide insights into their respective sectors’ performances. Financial institutions such as PNB Housing Finance Ltd. and UCO Bank are also slated to declare their results, which will be closely watched for indicators of the banking and housing finance sectors’ stability and growth.
Other notable companies across various sectors include RPG Life Sciences Ltd. in the pharmaceuticals domain, Shree Digvijay Cement Company Ltd., and UltraTech Cement Ltd. in the cement industry, and TVS Motor Company Ltd. in the automotive sector. These announcements are pivotal as they span across sectors that are crucial for the overall economic health of the country. The results from these companies will offer a broad picture of how different sectors of the Indian economy have performed in the fourth quarter and the fiscal year 2025, providing valuable insights for stakeholders, investors, and policymakers alike. The collective performance of these companies will have implications for market sentiments, future investments, and overall economic forecasting.
A boost to the masses, four major government-backed banks slash interest rates, bringing welcome respite to the common folk.
The Reserve Bank of India (RBI) has cut interest rates for the second consecutive time, and as a result, four government banks have reduced their interest rates. The affected banks include Punjab National Bank, Bank of India, Indian Bank, and UCO Bank. This decision will benefit both existing and new borrowers, providing relief to the common man.
Bank of India has reduced its repo-linked benchmark lending rate (RBLR) from 9.10% to 8.85%, effective from April 9. Indian Bank has cut its RBLR by 35 basis points to 8.70%, effective from April 11. Punjab National Bank has revised its RBLR from 9.10% to 8.85%, effective from April 10. UCO Bank has reduced its lending rate to 8.8%, effective from April 10.
The RBI’s decision has a direct impact on interest rates for all types of loans, including home loans, car loans, and personal loans. The central bank has changed its monetary policy stance from “neutral” to “accommodative”, indicating that it may continue to maintain a soft stance in the coming times. This decision is expected to provide relief to the common man, making it easier for them to borrow money.
The RBI has also lowered its GDP growth forecast for FY26 by 20 basis points to 6.5%. The growth forecast for the first quarter of FY26 is 6.5%, 6.7% for the second quarter, 6.6% for the third quarter, and 6.3% for the fourth quarter.
This reduction in interest rates is a positive development for the economy, as it will make borrowing cheaper and stimulate economic growth. The four government banks that have reduced their interest rates are expected to pass on these benefits to their customers, making it easier for them to borrow money and invest in the economy. Overall, this decision is expected to have a positive impact on the economy, providing relief to borrowers and stimulating economic growth.
Bank of Baroda responds to RBI rate cut by slashing lending rates for retail borrowers, a boon for individuals seeking loans
The Bank of Baroda (BoB) has announced that it will pass on the benefits of the recent RBI rate cut to its customers immediately. Following the RBI’s decision to reduce the repo rate by 25 basis points, several public sector banks, including Punjab National Bank, Bank of India, Indian Bank, and UCO Bank, have already cut their lending rates by up to 35 basis points. BoB has now also reduced its external benchmark-linked lending rates for retail and MSME customers.
The new rates will be effective immediately, and existing customers will also benefit from the rate cut. The bank’s Overnight Marginal Cost of Funds-Based Lending Rate (MCLR) stands at 8.15%, and its one-year MCLR is 9%. This puts BoB among the most competitive banks in the industry.
The rate cut by the Reserve Bank of India was the second consecutive reduction, following the 25 basis point cut in February. Loan borrowers from other banks are now hoping that their loan interest rates will also come down, totaling a 50 bps reduction.
According to the bank, this move reaffirms its commitment to providing credit at affordable rates and supporting economic growth and financial inclusion. The rate cut is expected to benefit individuals and businesses, especially those belonging to the retail and MSME segments. However, it is not clear whether other banks will follow suit, but the move by BoB is a positive development for Consumers.
Four PSU banks slash loans rates in tandem with RBI’s rate decision, with others expected to follow suit.
In response to the Reserve Bank of India’s (RBI) decision to reduce its short-term lending rate (repo rate) on Wednesday, four public sector banks have announced a reduction in their lending rates. Punjab National Bank (PNB), Bank of India, Indian Bank, and UCO Bank have all reduced their repo-linked benchmark lending rates (RBLR) by up to 35 basis points.
According to regulatory filings, Indian Bank’s RBLR will be lowered to 8.70 per cent effective April 11, while PNB’s RBLR will be reduced to 8.85 per cent effective April 10. Bank of India’s new RBLR stands at 8.85 per cent, effective from Wednesday. UCO Bank has brought down its repo-linked rate to 8.8 per cent, effective Thursday.
These rate reductions are expected to benefit both existing and new borrowers, as they will pay lower interest rates on their loans. Other banks are also likely to follow suit and announce similar rate reductions in the coming days.
The RBI’s decision to reduce the repo rate was seen as a move to boost economic growth, and the reduction in lending rates by these public sector banks is expected to have a positive impact on the overall economy. With borrowers paying lower interest rates on their loans, they will have more disposable income and may be more likely to make big-ticket purchases or invest in other financial assets, which can help stimulate economic growth.
Overall, the reduction in lending rates by these public sector banks is a positive development for borrowers and the economy as a whole. It is a step towards making credit more affordable and accessible, which can help drive economic growth and development.
Supreme Court Dismisses UCO Bank’s Plea in Pension Case, Ruling Employee Fired for Misconduct Isn’t Entitled to Benefit
The Supreme Court of India has rejected UCO Bank’s plea that an employee who was dismissed for misconduct was not entitled to pension. The court held that the bank’s decision to dismiss the employee was not valid as it was based on an incomplete inquiry and did not follow the proper procedures.
The employee, who was a manager at the bank, was dismissed in 2013 after allegations of misconduct were made against him. The bank conducted an inquiry and found him guilty of the charges, leading to his dismissal. However, the employee challenged the decision in court, arguing that the inquiry was incomplete and did not follow the proper procedures.
The Supreme Court agreed with the employee’s argument, stating that the inquiry was not conducted in accordance with the bank’s rules and regulations. The court found that the inquiry report was based on incomplete and unreliable evidence, and that the bank’s decision to dismiss the employee was not supported by sufficient evidence.
As a result, the Supreme Court ruled that the employee was entitled to his job and benefits, including pension. The court ordered the bank to reinstate the employee with full back wages and benefits, including pension.
This ruling is significant because it sets a precedent for employees who are dismissed without a fair inquiry and proper procedures. It highlights the importance of following proper procedures and ensuring that inquiries are conducted in a fair and transparent manner.
In conclusion, the Supreme Court’s decision in this case reinforces the importance of fair and transparent decision-making processes in the workplace. It also underscores the need for employers to follow their own rules and regulations, and to ensure that employees are treated fairly and justly.
The business expands by 14% while its loan book grows at a rate of 20%.
UCO Bank, a public sector bank in India, has reported a strong business growth of 14% year-on-year for the January-March period of financial year 2025. The bank’s total business, comprising deposits and loans, stood at Rs 5.13 lakh crore, a significant increase from Rs 4.5 lakh crore in the same period last year. The growth was driven by a 20.37% expansion in domestic loans, which stood at Rs 1.95 lakh crore. On a sequential basis, domestic advances grew by 6.56%. The total advances increased by 17.65% to Rs 2.2 lakh crore.
Deposits also saw a notable increase, growing by 11.41% to Rs 2.93 lakh crore. While the deposit growth was lower than the loan growth, it was still a significant improvement. The current-account savings-account (CASA) ratio, a key indicator of a bank’s financial health and profitability, stood at 37.9% as of March 2025. This is slightly lower than the 39.25% recorded in March 2024 and the 37.97% in December 2024.
Overall, UCO Bank’s performance indicates a healthy business growth, driven primarily by expansion in domestic loans. The bank’s total business and advances have shown significant growth, reflecting its strong financial performance. Although the CASA ratio has slightly decreased, it remains an important indicator of the bank’s financial health and profitability. The bank’s performance is a positive indicator for investors and stakeholders, and it may bode well for the bank’s future prospects.
Indian Bank Names Venkatachalam Anand as Chief Officer for Vigilance
Shri Venkatachalam Anand has been appointed as the new Chief Vigilance Officer (CVO) of Indian Bank, effective April 1, 2025. Anand, who previously held the position of CVO at UCO Bank, will take over from Shri Vishesh Kumar Srivastava, who is being transferred to Bank of Baroda. Srivastava’s tenure as Indian Bank’s CVO came to an end on April 1, 2025.
Shri Venkatachalam Anand has over three decades of experience in the banking sector. He joined Bank of India (BOI) in 2000 as a Senior Manager (Law) and has since worked in various roles, including as Assistant General Manager and Zonal Manager. His expertise lies in law, recovery, and asset management, as well as retail business.
As CVO, Shri Anand will be responsible for ensuring the integrity and transparency of Indian Bank’s operations. His appointment comes at a time when the bank is undergoing significant changes, including a shift towards digital banking and increased focus on customer service.
Shri Anand’s tenure at UCO Bank has been marked by significant achievements, including improving the bank’s recovery rates and enhancing its risk management strategy. His experience and expertise will undoubtedly be valuable in his new role as CVO of Indian Bank.
Nearly three decades after the crime, a former UCO Bank employee was sentenced to three years’ rigorous imprisonment for defrauding his employer out of Rs 25 lakh in Patna.
A former special assistant at UCO Bank, A K Biswas, has been sentenced to three years of rigorous imprisonment and a fine of Rs 6 lakh for defrauding his employer of over Rs 25 lakh in the late 1980s. The crime was committed between 1986 and 1989, and the Central Bureau of Investigation (CBI) registered a case against Biswas on January 20, 1992. According to the FIR, Biswas opened a fictitious bank account, inflated the credit balance, and withdrew the money fraudulently. He cheated the bank of Rs 25,70,073 by using forged and fabricated debit vouchers and fake credit entries in the ledger sheet.
The CBI investigated the case and filed a single chargesheet against Biswas, who was found guilty by the court and sentenced accordingly. Biswas worked at the bank’s Frazer Road branch in Patna from 1983-91 and was a special assistant during that time. The court also held Biswas guilty of inflating the credit balance and withdrawing money based on cheques/withdrawal slips written in his own handwriting.
It is noteworthy that Biswas was not caught or punished immediately after the crime, and it took over 33 years for the case to be resolved. The CBI spokesperson stated that initially, three cases were registered in the matter, which were later amalgamated, and the trial took place over a period of 15 years. The sentence was pronounced on the 28th year of the case. The sentence is a reminder that crime does not go unpunished, even if it takes time, and that justice will eventually be served.
UCO Bank hosts a vibrant MSME, Agriculture, and Resource Festival in Surat, showcasing its commitment to local economic growth and development.
UCO Bank’s Zonal Office in Surat organized a MSME, Agriculture, and Resource Carnival on March 11, 2025, aimed at promoting awareness about financial schemes and resources available for businesses and farmers. The event was attended by several dignitaries, including UCO Bank’s General Manager Ashutosh Sundaram, SIDBI Assistant General Manager Dilip Kumar Sahu, Surat Chamber of Commerce’s Agriculture Committee Chairman K.B. Pipaliya, and UCO Bank’s Zonal Head Neeraj Daporkar. Several esteemed customers from MSME and agricultural loan customers from various branches in Surat and Vadodara also participated in the event.
During the event, General Manager Ashutosh Sundaram elaborated on the various MSME and agricultural schemes offered by the bank, highlighting how these initiatives can support businesses and farmers in expanding their operations. The event also saw the distribution of sanction letters for MSME and agricultural loans to eligible customers. The primary objective of the carnival was to educate customers about the bank’s schemes and encourage them to leverage available financial resources effectively.
The event received an enthusiastic response from attendees, who appreciated the bank’s initiative, recognizing it as a significant step towards strengthening the MSME and agricultural sectors. Many attendees expressed their gratitude for the informative session, emphasizing its role in facilitating economic growth and financial inclusion in the region. Overall, the event marked a successful initiative by UCO Bank to promote entrepreneurship and agricultural development in the region.
Unlock the Key to Affordable Home Ownership: Say goodbye to high interest rates! Compare the best home loan deals of 2025 and start building your dream home now!
Are you dreaming of owning your own home, but high loan rates are giving you sleepless nights? Worry no more! Many banks are currently offering home loans at very affordable interest rates and EMIs (Equated Monthly Installments). In this article, we’ll help you discover which bank is offering the cheapest home loan option.
Rising interest rates and expensive loans can make home ownership a daunting task. However, several government banks, including Bank of Maharashtra, Central Bank of India, and Punjab National Bank, are offering home loans at attractive interest rates, starting from 8.10% to 10.65%. This can significantly reduce your EMI and make owning a home a more achievable goal.
Here’s a breakdown of the best home loan rates offered by various banks, with rates starting from 8.10%:
* Bank of Maharashtra: 8.10% to 10.65%
* Central Bank of India: 8.10% to 9.95%
* Punjab National Bank: 8.15% to 9.85%
* Indian Overseas Bank: 8.15% to 9.85%
* State Bank of India: 8.50% to 9.75%
* UCO Bank: 8.35% to 10.55%
* IDBI Bank: 8.40% to 12.25%
* Nainital Bank: 8.40% to 11.20%
When choosing a loan, consider factors beyond the interest rate, such as processing fees, loan transfer charges, and bank terms. Some banks, like Canara Bank and Punjab & Sind Bank, are waiving processing fees, which can further reduce your loan costs.
Don’t miss out on this opportunity to own your dream home. Review the list above to find the best home loan option for your needs and budget. Remember to also consider the bank’s terms and conditions before finalizing your decision. Happy home buying!